Venus Remedies hits 52-week high on DCGI nod

NEW DELHI: Venus Remedies Ltd surged over 7 per cent in trade on Wednesday to hit its 52-week high of Rs 328.25 after the pharma company announced that it has received approval from the Drugs Controller General, India ( DCGI) to conduct Phase-III Clinical Trials of its cancer detection NCE.

At 01:45 pm, Venus Remedies was trading 7 per cent higher at Rs 320.60. It has hit a 52-week high of Rs 328.25 and a low of Rs 302 in trade today.

"The molecule is for early cancer detection and this leap towards successful Phase III will make Venus pioneers among the companies working and providing innovative solution for cancer detection," Venus Remedies said in a statement.

"The company is planning to launch this NCE by the last quarter of 2013 in India for the first time globally," added the statement.